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RE: Chart Of The Day: Are Precious Metals Breaking Loose?
Silver is going nowhere. Look at the banks they are piling on short positions. They never loose. Its going nowhere.
Silver is going nowhere. Look at the banks they are piling on short positions. They never loose. Its going nowhere.
Maybe you are right, I'm not so comfortable with silver by 16.50 as by 14.50. I pretend to buy assets on 10-20 years lows and now I made an exception.
But banks are also often wrong. Deutsche Bank reported a quarterly loss of more than 3 billions today... They are eliminating all their investment banking branch now.
Deutsche Bank is an atomic bomb, if that goes under i believe it could take everything down with it. The precious metals action is just a suckers rally to pull in speculators and rinse them. Every couple of years its like clockwork. Silver will go nowhere in the medium term. They have flashed a couple of warning signs though in the last year in that they were net long about 3 times for a week or two. Its going to go one day but its not now. Short positions are climbing with every rise.
Deutsche should be too big to fail, but share holders would be diluted out from it in case of a crisis.
We are in an everything-bubble, stocks on top, bonds on top... Why not a nice commodity bull market as next hype?
It could be, i just dont think it will happen yet. Maybe im wrong we will see. :)